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Asia Pacific Low-Speed Vehicle Market Size, Share & Industry Trends Analysis Report By Category Type (L7, and L6), By Vehicle Type, By Power Output, By Propulsion, By Battery Type, By Voltage Type, By Application, By Country and Growth Forecast, 2023 - 2030

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    Report

  • 148 Pages
  • June 2023
  • Region: Asia Pacific
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5852290
Description Jump to:
The Asia Pacific Low-Speed Vehicle Market should witness market growth of 8.0% CAGR during the forecast period (2023-2030).

The main causes of the rise of the market are rapid urbanization and rising public safety concerns. The variables that will speed up market expansion include expanding government measures for reducing carbon emissions and rising worldwide traffic congestion. Growing public-private interactions and increasing megacities will create favorable conditions for expanding the market.

Three-point seat belts, running lights, headlights, brake lights, reflectors, rearview mirrors, backup cameras, and turn signals are typically included in LSVs. Modern LSVs have full doors, Bluetooth stereo, USB charging, climate control, zero emissions, defrost windshield with washer, and adjustable power steering. For warehouses or factories, some LSVs are used to move cargo on a flatbed behind the cab.

India is the world's fourth-largest sector for vehicles. The Indian government has set ambitious goals and implemented supportive policies to ensure that electric vehicles replace fossil fuel-based vehicles as the main means of transportation, even though these vehicles dominate the current automotive sector. The ambitious goal is to sell 6-7 million hybrid and electric vehicles annually in 2020 under the National Electric Mobility Plan (NEMMP). The Indian government hopes to fulfill the electrified dream of 400 million customers by 2030. It is expected that the market will expand as a result of the rising popularity of electric vehicles and the focus on environmentally friendly practices supported by governments of regional nations.

The China market dominated the Asia Pacific Low-Speed Vehicle Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,537.7 million by 2030. The Japan market is anticipated to grow at a CAGR of 7.3% during (2023-2030). Additionally, The India market should witness a CAGR of 8.6% during (2023-2030).

Based on Category Type, the market is segmented into L7, and L6. Based on Vehicle Type, the market is segmented into Commercial Turf Utility Vehicle, Golf Cart, Industrial Utility Vehicle, and Personal Mobility Vehicle. Based on Power Output, the market is segmented into < 8KW, 8-15KW, and >15KW. Based on Propulsion, the market is segmented into Electric, Diesel, and Gasoline. Based on Battery Type, the market is segmented into Li-Ion, and Lead Acid. Based on Voltage Type, the market is segmented into < 60 V, and >60 V. Based on Application, the market is segmented into Golf Courses, Hotels & Resorts, Airports, Industrial Facilities, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Textron, Inc., Deere & Company, Yamaha Motor Co., Ltd., The Toro Company, KUBOTA Corporation, Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.), Waev, Inc., Club Car, LLC, American LandMaster, and Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.

Scope of the Study

By Category Type

  • L7
  • L6

By Vehicle Type

  • Commercial Turf Utility Vehicle
  • Golf Cart
  • Industrial Utility Vehicle
  • Personal Mobility Vehicle

By Power Output

  • < 8KW
  • 8-15KW
  • >15KW

By Propulsion

  • Electric
  • Diesel
  • Gasoline

By Battery Type

  • Li-Ion
  • Lead Acid

By Voltage Type

  • < 60 V
  • >60 V

By Application

  • Golf Courses
  • Hotels & Resorts
  • Airports
  • Industrial Facilities
  • Others

By Country

  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific

Key Market Players

List of Companies Profiled in the Report:


  • Textron, Inc.
  • Deere & Company
  • Yamaha Motor Co., Ltd.
  • The Toro Company
  • KUBOTA Corporation
  • Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.)
  • Waev, Inc.
  • Club Car, LLC
  • American LandMaster
  • Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.

Unique Offerings

  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Low-Speed Vehicle Market, by Category Type
1.4.2 Asia Pacific Low-Speed Vehicle Market, by Vehicle Type
1.4.3 Asia Pacific Low-Speed Vehicle Market, by Power Output
1.4.4 Asia Pacific Low-Speed Vehicle Market, by Propulsion
1.4.5 Asia Pacific Low-Speed Vehicle Market, by Battery Type
1.4.6 Asia Pacific Low-Speed Vehicle Market, by Voltage Type
1.4.7 Asia Pacific Low-Speed Vehicle Market, by Application
1.4.8 Asia Pacific Low-Speed Vehicle Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Analyst's Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Market Share Analysis, 2022
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2019-2023)
3.4.2 Key Strategic Move: (Product Launches and Product Expansions: 2019, Jan - 2023, Jun) Leading Players
Chapter 4. Asia Pacific Low-Speed Vehicle Market by Category Type
4.1 Asia Pacific L7 Market by Country
4.2 Asia Pacific L6 Market by Country
Chapter 5. Asia Pacific Low-Speed Vehicle Market by Vehicle Type
5.1 Asia Pacific Commercial Turf Utility Vehicle Market by Country
5.2 Asia Pacific Golf Cart Market by Country
5.3 Asia Pacific Industrial Utility Vehicle Market by Country
5.4 Asia Pacific Personal Mobility Vehicle Market by Country
Chapter 6. Asia Pacific Low-Speed Vehicle Market by Power Output
6.1 Asia Pacific < 8KW Market by Country
6.2 Asia Pacific 8-15KW Market by Country
6.3 Asia Pacific >15KW Market by Country
Chapter 7. Asia Pacific Low-Speed Vehicle Market by Propulsion
7.1 Asia Pacific Electric Market by Country
7.2 Asia Pacific Diesel Market by Country
7.3 Asia Pacific Gasoline Market by Country
Chapter 8. Asia Pacific Low-Speed Vehicle Market by Battery Type
8.1 Asia Pacific Li-Ion Market by Country
8.2 Asia Pacific Lead Acid Market by Country
Chapter 9. Asia Pacific Low-Speed Vehicle Market by Voltage Type
9.1 Asia Pacific < 60 V Market by Country
9.2 Asia Pacific >60 V Market by Country
Chapter 10. Asia Pacific Low-Speed Vehicle Market by Application
10.1 Asia Pacific Golf Courses Market by Country
10.2 Asia Pacific Hotels & Resorts Market by Country
10.3 Asia Pacific Airports Market by Country
10.4 Asia Pacific Industrial Facilities Market by Country
10.5 Asia Pacific Others Market by Country
Chapter 11. Asia Pacific Low-Speed Vehicle Market by Country
11.1 China Low-Speed Vehicle Market
11.1.1 China Low-Speed Vehicle Market by Category Type
11.1.2 China Low-Speed Vehicle Market by Vehicle Type
11.1.3 China Low-Speed Vehicle Market by Power Output
11.1.4 China Low-Speed Vehicle Market by Propulsion
11.1.5 China Low-Speed Vehicle Market by Battery Type
11.1.6 China Low-Speed Vehicle Market by Voltage Type
11.1.7 China Low-Speed Vehicle Market by Application
11.2 Japan Low-Speed Vehicle Market
11.2.1 Japan Low-Speed Vehicle Market by Category Type
11.2.2 Japan Low-Speed Vehicle Market by Vehicle Type
11.2.3 Japan Low-Speed Vehicle Market by Power Output
11.2.4 Japan Low-Speed Vehicle Market by Propulsion
11.2.5 Japan Low-Speed Vehicle Market by Battery Type
11.2.6 Japan Low-Speed Vehicle Market by Voltage Type
11.2.7 Japan Low-Speed Vehicle Market by Application
11.3 India Low-Speed Vehicle Market
11.3.1 India Low-Speed Vehicle Market by Category Type
11.3.2 India Low-Speed Vehicle Market by Vehicle Type
11.3.3 India Low-Speed Vehicle Market by Power Output
11.3.4 India Low-Speed Vehicle Market by Propulsion
11.3.5 India Low-Speed Vehicle Market by Battery Type
11.3.6 India Low-Speed Vehicle Market by Voltage Type
11.3.7 India Low-Speed Vehicle Market by Application
11.4 South Korea Low-Speed Vehicle Market
11.4.1 South Korea Low-Speed Vehicle Market by Category Type
11.4.2 South Korea Low-Speed Vehicle Market by Vehicle Type
11.4.3 South Korea Low-Speed Vehicle Market by Power Output
11.4.4 South Korea Low-Speed Vehicle Market by Propulsion
11.4.5 South Korea Low-Speed Vehicle Market by Battery Type
11.4.6 South Korea Low-Speed Vehicle Market by Voltage Type
11.4.7 South Korea Low-Speed Vehicle Market by Application
11.5 Singapore Low-Speed Vehicle Market
11.5.1 Singapore Low-Speed Vehicle Market by Category Type
11.5.2 Singapore Low-Speed Vehicle Market by Vehicle Type
11.5.3 Singapore Low-Speed Vehicle Market by Power Output
11.5.4 Singapore Low-Speed Vehicle Market by Propulsion
11.5.5 Singapore Low-Speed Vehicle Market by Battery Type
11.5.6 Singapore Low-Speed Vehicle Market by Voltage Type
11.5.7 Singapore Low-Speed Vehicle Market by Application
11.6 Malaysia Low-Speed Vehicle Market
11.6.1 Malaysia Low-Speed Vehicle Market by Category Type
11.6.2 Malaysia Low-Speed Vehicle Market by Vehicle Type
11.6.3 Malaysia Low-Speed Vehicle Market by Power Output
11.6.4 Malaysia Low-Speed Vehicle Market by Propulsion
11.6.5 Malaysia Low-Speed Vehicle Market by Battery Type
11.6.6 Malaysia Low-Speed Vehicle Market by Voltage Type
11.6.7 Malaysia Low-Speed Vehicle Market by Application
11.7 Rest of Asia Pacific Low-Speed Vehicle Market
11.7.1 Rest of Asia Pacific Low-Speed Vehicle Market by Category Type
11.7.2 Rest of Asia Pacific Low-Speed Vehicle Market by Vehicle Type
11.7.3 Rest of Asia Pacific Low-Speed Vehicle Market by Power Output
11.7.4 Rest of Asia Pacific Low-Speed Vehicle Market by Propulsion
11.7.5 Rest of Asia Pacific Low-Speed Vehicle Market by Battery Type
11.7.6 Rest of Asia Pacific Low-Speed Vehicle Market by Voltage Type
11.7.7 Rest of Asia Pacific Low-Speed Vehicle Market by Application
Chapter 12. Company Profiles
12.1 Textron, Inc.
12.1.1 Company Overview
12.1.2 Financial Analysis
12.1.3 Segmental and Regional Analysis
12.1.4 Research & Development Expenses
12.1.5 Recent strategies and developments:
12.1.5.1 Product Launches and Product Expansions:
12.2 Deere & Company
12.2.1 Company Overview
12.2.2 Financial Analysis
12.2.3 Segmental and Regional Analysis
12.2.4 Research & Development Expenses
12.2.5 Recent strategies and developments:
12.2.5.1 Product Launches and Product Expansions:
12.2.5.2 Acquisition and Mergers:
12.3 Yamaha Motor Co., Ltd.
12.3.1 Company Overview
12.3.2 Financial Analysis
12.3.3 Segmental and Regional Analysis
12.3.4 Research & Development Expense
12.3.5 Recent strategies and developments:
12.3.5.1 Product Launches and Product Expansions:
12.4 The Toro Company
12.4.1 Company Overview
12.4.2 Financial Analysis
12.4.3 Segmental and Regional Analysis
12.4.4 Product Development Expenses
12.4.5 Recent strategies and developments:
12.4.5.1 Product Launches and Product Expansions:
12.4.5.2 Acquisition and Mergers:
12.5 KUBOTA Corporation
12.5.1 Company Overview
12.5.2 Financial Analysis
12.5.3 Segmental and Regional Analysis
12.5.4 Research & Development Expenses
12.5.5 Recent strategies and developments:
12.5.5.1 Product Launches and Product Expansions:
12.6 Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.)
12.6.1 Company Overview
12.6.2 Financial Analysis
12.6.3 Segmental and Regional Analysis
12.6.4 Recent strategies and developments:
12.6.4.1 Partnerships, Collaborations, and Agreements:
12.7 Waev, Inc.
12.7.1 Company Overview
12.7.2 Recent strategies and developments:
12.7.2.1 Acquisition and Mergers:
12.8 Club Car, LLC
12.8.1 Company overview
12.8.2 Recent strategies and developments:
12.8.2.1 Product Launches and Product Expansions:
12.8.2.2 Acquisition and Mergers:
12.9 American LandMaster
12.9.1 Company Overview
12.9.2 Recent strategies and developments:
12.9.2.1 Product Launches and Product Expansions:
12.10. Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.
12.10.1 Company Overview

Companies Mentioned

  • Textron, Inc.
  • Deere & Company
  • Yamaha Motor Co., Ltd.
  • The Toro Company
  • KUBOTA Corporation
  • Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.)
  • Waev, Inc.
  • Club Car, LLC
  • American LandMaster
  • Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.

Methodology

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About the Low Speed Electric Vehicle Market

The Low Speed Electric Vehicle (LSEV) market is a segment of the commercial vehicle industry that focuses on the production of electric vehicles with a maximum speed of 25 mph. These vehicles are typically used for short-distance transportation, such as in urban areas, and are often used for last-mile delivery services. LSEV vehicles are typically smaller than traditional commercial vehicles, and are powered by electric motors, batteries, and other components. The LSEV market has seen a steady growth in recent years, driven by increasing demand for sustainable transportation solutions and the need for efficient last-mile delivery services. The market is also driven by government incentives and regulations that promote the adoption of electric vehicles. Notable companies in the LSEV market include BYD, Geely, Kandi Technologies, and Zotye Auto. Show Less Read more

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